# China Willing to Buy $20 Billion of U.S. Ag in Year One - The Scoop

> Bloomberg reported that China aims to buy at least $20 billion of U.S. agricultural products within a year if a partial trade deal is signed. Purchases could rise to $40-50 billion in a second year after punitive tariffs are removed. China had already issued waivers for 10 million tonnes of soybean purchases.

- Date: 2021-11-03 · published 2021-11-03T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/14981-china-willing-to-buy-20-billion-of-u-s-ag-in-year-one-the-scoop
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

A committed purchase target would sharply boost Chinese demand for U.S. corn, soybeans and sorghum. This is supportive of U.S. feed grain prices if the deal is finalized.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- SORGHUM: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-02-21 | [China proposes to buy $30 billion more in U.S. ag products](https://feedsoft.ai/events/60475-china-proposes-to-buy-30-billion-more-in-u-s-ag-products.md) | -0.3% | +2.0% |
| CORN | 2021-02-24 | [U.S. Corn Exports To China Boom - 2020 Year in Review](https://feedsoft.ai/events/48473-u-s-corn-exports-to-china-boom-2020-year-in-review.md) | +0.7% | +5.4% |
| CORN | 2023-06-01 | [China’s imports of U.S. food on the rise - WEDC](https://feedsoft.ai/events/14834-china-s-imports-of-u-s-food-on-the-rise-wedc.md) | -2.2% | -3.2% |
| CORN | 2022-06-15 | [Lifting Tariffs on China - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/14925-lifting-tariffs-on-china-ag-information-network-of-the-west.md) | -1.6% | +0.4% |
| CORN | 2021-10-05 | [China’s buying — and U.S. farms cashing in](https://feedsoft.ai/events/44412-china-s-buying-and-u-s-farms-cashing-in.md) | -1.3% | +7.4% |
| SOY | 2019-02-21 | [China proposes to buy $30 billion more in U.S. ag products](https://feedsoft.ai/events/60475-china-proposes-to-buy-30-billion-more-in-u-s-ag-products.md) | +0.1% | +0.4% |
| SOY | 2019-02-02 | [China's COFCO buys million-tonne batch of U.S. soybeans](https://feedsoft.ai/events/60472-china-s-cofco-buys-million-tonne-batch-of-u-s-soybeans.md) | -0.4% | -1.6% |
| SOY | 2019-09-16 | [China buys $67 million Worth of U.S. Soybeans as Trade War Eases](https://feedsoft.ai/events/56927-china-buys-67-million-worth-of-u-s-soybeans-as-trade-war-eases.md) | -0.2% | +5.8% |

## Sources

- thedailyscoop.com: https://www.thedailyscoop.com/news/retail-industry/china-willing-buy-20-billion-u-s-ag-year-one

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.